13 March 2013
Dr Madsen Pirie writes on Politics.co.uk on the mansion tax. He argues that it is a wealth tax that is economically illiterate, damaging and divisive.
The proposed mansion tax is a wealth tax, and wealth taxes are among the most pernicious and damaging of all taxes. The proposal is not to tax people for doing anything with a house such as buying it or selling it, but simply for owning it.
One of Adam Smith's canons of fair taxation is that it should be levied in a way that is convenient for the person paying it. A tax on rents should fall when the rent has been collected, he said...
Read the full article on Politics.co.uk here.